Negotiating A Sale

The realtor can be the go between.

You don’t want to wait to consider it, so you need to complete the sale. A part of the plan should be financial negotiating.

One of the best points to have on hand, and something that will be useful when pricing your home, is an appraisal of the property. Although that may be costly, it’s something the buyer will need to secure a loan and can be included as part of the sales price, if the lender is agreeable. It’s a good investment either way.

Fix any issues that the appraisal raises, and you may can get a higher price. Getting your home in first class condition and making any needed repairs keeps the buyer from having those issues as reasons to lower the price, so take care of them yourself.

When pricing your home, you may need to set the figure at the appraised value if the housing market is particularly weak. With the market recovering in most areas, you should be able to set your price slightly above the appraisal. Take notes on the benefits and features overlooked by the appraisal. You can mention the good neighborhood, the school district, and the landscaping.

Try to find out the buyer’s motivation. Do not share yours. You can emphasize their needs if you know their motivation.

Have your side of the argument ready. Practice your presentation with a friend. You will need to be prepared for haggling, family members coming over, attorneys joining. They will be making guesses or talking in general terms about other homes.

The toughest part may be being prepared to walk away. You should know what your home is worth, and what price is acceptable. Be prepared to turn down any offers that are unacceptable, whether in price or terms. Any adjustments you make should be tolerable. Although it can be disappointing to turn a buyer down, if they are serious, then your clear dedication to your deal can convince them to change.

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Tags: Finance, home and family, House & Home, Real Estate, selling